Optimizing Business Exits
Selling a Rental Stores and Yards Business
There's a right way and a wrong way to sell a rental stores and yards business even if the seller has previous business sales experience. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
In order to market a rental stores and yards business these days, you need to apply the right combination of preparation, strategy and common sense.
Sweetening the Deal
Today's rental stores and yards business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. A limited amount of training and mentoring may seem inconsequential to you, but to a young rental stores and yards business owner, they can be critical launching points for their ownership journey.
Leveraging Industry Connections
Today's rental stores and yards business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your rental stores and yards business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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